Spanx’s form-fitting, shapewear is a well-known brand. But according to founder Sara Blakely, it’s making a huge push into other categories of apparel — including denim — in hopes of making all clothing more comfortable for women.

Established in the 1990’s, this business is also well-positioned for growth. This includes a decrease in dependence on discount stores and wholesale partners like department stores. Direct-to-consumer business is more lucrative. This means that Spanx is able to build closer relationships with customers.

According to BlackstoneThese are the main reasons an investment company decided to go public. to take a majority stakeSpanx. Wednesday’s announcement valued Spanx at $1.2 million. 

Ann Chung, Blackstone’s global head of the consumer division said, “There aren’t many brands who have been able successfully make that transformation.” She was speaking Friday to CNBC’s “The View” program.Squawk Box“

Chung explained that they saw the consumer following the brand and company – whether it was leggings or shapewear, but they also were following every product and were very loyal to the brand.

Blakely estimates that about 70% of Spanx sales come from direct-to consumer channels. Spanx relied on its wholesale partners and department stores in the past. It has been investing more in its own website over the past few years. That’s a similar shift that major consumer brands — including Nike CoachAnd Levi Strauss — have been making to build tighter relationships with customers and keep more money from each transaction.

Blackstone is supporting women-owned businesses with this latest deal. The deal follows Whitney Wolfe Herd’s investments. BumbleReese Witherspoon Hello Sunshine media conglomerate.

Blakely started Spanx 1998 with only $5,000. which she had earned from selling fax machines. She had a vision to develop a product that women could wear underneath clothing. It would make them more comfortable. Her prototype was created by her cutting the legs of a pair corduroy pantyhose. This product became a hit immediately with women.

Since then, Spanx’s range has grown to include activewear as well as denim and shapewear for men. Blakely stated that product innovation is a top priority.

CNBC’s Sheila said, “We kind of defined and revolutionized a category,” adding that she was proud to share her thoughts. Our customers have said, “Put the magic Spanx into the clothes that I wear.”

Shapewear has been growing in popularity as women are looking for more comfortable clothes to complement their wardrobes. Kim Kardashian West, reality TV star has her own brand called Skims which was recently valued at $1.6 billion HanesBrandsIt has also expanded its reach to formwear with the Maidenform and Bali brands.

Blakely stated that many people enter this category but quickly leave it after two years. This is because the making of shapewear can be very easy and difficult to perfect.

Blakely will retain a substantial stake in Blackstone and oversee the operations after the deal is closed. As executive chairwoman, she will be retiring.